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Morning Report - 24 May 2022

Yesterday’s UK 100 Leaders Price (p) % Chg
ROYAL MAIL PLC 332.0 5.3%
M&G PLC 216.7 4.8%
INTERMEDIATE CAPITAL GROUP 1,462.0 4.7%
AVIVA PLC 429.2 4.2%
VODAFONE GROUP PLC 126.1 4.1%

 

Yesterday’s UK 100 Laggards Price (p) % Chg
INTERTEK GROUP PLC 4706.0 -3.9%
HARBOUR ENERGY PLC 446.8 -1.0%
SEGRO PLC 1105.0 -1.0%
ROLLS-ROYCE HOLDINGS PLC 83.1 -0.2%
UNITED UTILITIES GROUP PLC 1129.5 0.0%

 

Major World Indices Price % Chg 1 YEAR
UK 100 INDEX 7,513 1.7% 7.1%
DOW JONES INDUS. AVG 31,858 1.9% -6.9%
DAX INDEX 14,175 1.4% -8.2%
NIKKEI 225 27,002 1.0% -4.8%
S&P/ASX 200 INDEX 7,149 0.1% 1.5%

 

Commodities Units Price % Chg
WTI Crude Oil (Nymex) USD/bbl. 109.82 -0.42%
Brent Crude (ICE) USD/bbl. 112.87 0.28%
Gold Spot USD/t oz. 1,852 0.3%
Copper (Comex) USd/lb. 432 1.2%

 

The UK 100 is called to open -70 points this morning at 7442.  

1 day; 2 Years

Click graph to enlarge

Markets Overview:

 

The UK 100 is called to open -70 points this morning at 7442.  The UK 100 looks set to open lower this morning ahead of a busy day of corporate news, UK public sector borrowing data and preliminary PMI surveys for major economies.  Overnight, US markets finished higher, with the Dow Jones rising up almost 2%, the S&P 500 gaining 1.9% and the Nasdaq Composite rising 1.6%, before futures dived into the red after Snapchat owner Snap Inc (NYSE:SNAP)slashed profit and revenue forecasts after Wall Street closed.  Most Asian markets were in the red this morning, however, led by the Hang Seng and Shanghai indices, down 1.6% and 1.2%.  This comes after US President Joe Biden added to geopolitical tensions yesterday by saying that the US would intervene to defend Taiwan in the event of a Chinese invasion, though he was asked a direct question about this and it is a statement he has made before.

 

 

Company News & Broker Comments:

 

Company News:

Boohoo this morning said that terms had been agreed of a preliminary settlement relating to a class action claim brought against the Group in the United States District Court for the Central District of California.

 

 

Bank of Ireland Group plc said it had received Clearance by the Competition and Consumer Protection Commission of the Group's acquisition of certain KBC Bank Ireland plc portfolios.

 

 

Greencore Group today announced results and said H1 revenues are back above pre-Covid levels, which they said is a great achievement against a backdrop of mobility restrictions, supply challenges and emerging inflation. They have seen encouraging momentum in revenue and profit conversion in the first seven weeks of H2, and are confident in the companies ability to navigate our way through the current well-publicised macro challenges as they enter their peak seasonal trading period. They said the strong market positions, close customer relationships and intense focus on efficiencies mean that they look to the future with optimism, and expect to deliver a full year out-turn in line with market expectations

 

 

SSP Group this morning announced it has had a good first half and revenues are recovering strongly as the travel sector rebounds. The actions taken during the pandemic to protect the business now leave it well positioned to capitalise on the many opportunities ahead.

Broker Comments:

 No New Broker Comments

 

Reporting Today:

Assura

 

Bytes Technology Group

 

Cranswick

 

Greencore

 

Hill & Smith Holdings

 

Homeserve

 

RS Group

 

SSP Group

 

Shaftesbury

 

Reporting Tomorrow:

 

Aveva*

 

HICL Infastructure

 

Intertek Group

 

Marks & Spencer Group

 

Mediclinic International

 

Pets at Home

 

Pershing Square*

 

SSE

 

Severn Trent

 

Softcat

 

 

In Focus Today:

 

EcoFin Meeting

 

German S&P Global/BME Composite PMI

 

German S&P Global/BME Manufacturing PMI

 

German S&P Global/BME Services PMI

 

EU S&P Global Composite PMI

 

EU S&P Global Manufacturing PMI

 

EU S&P Global Services PMI

 

UK S&P Global/CIPS Manufacturing PMI

 

UK S&P Global/CIPS Services PMI

 

US S&P Global Composite PMI

 

US S&P Global Manufacturing PMI

 

US S&P Global Services PMI

 

US New Home Sales

 

RBA's Ellis speech

 

 

This Week's Ex-Dividends:

 

FTSE 100:

Intertek Group

 

Whitbread

 

Sage Group

 

Imperial Brands

 

DCC

 

FTSE 250:

RHI Magnesita N.V.

 

Vivo Energy

 

Balfour Beatty

 

TI Fluid Systems

 

IP Group

 

BlackRock World Mining Trust

 

Victrex

 

Grainger

 

ContourGlobal

 

Diversified Energy Company

 

Diploma

 

Tritax EuroBox GBP

 

Britvic

 

HICL Infrastructure

 

Euromoney Institutional Investor

 

Great Portland Estates

 

LXi REIT

 

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